Fine Arts Society of Indianapolis

Analysis

Fine Arts Society of Indianapolis is a registered charity in United States, based in Indianapolis, IN. It received its IRS tax-exemption ruling in January 1969, 57 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Fine Arts Society of Indianapolis reported income of $310k and spending of $672k, spending 217% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $367k to $310k (-16%), an average of -4.1% a year. The sharpest change came in the year to December 2020, when income rose by 180%. Over the whole period it spent 121% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Fine Arts Society of Indianapolis sits at the 61st percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 62nd percentile within IN. Charities of a similar size with the same main cause include Memphis Challenge Inc ($310k), Bridge of Hope Buxmont ($310k) and Kansas Livestock Foundation ($310k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 78% and program service revenue 19% of the total. Compensation of current officers, directors and key employees was $167k (25% of expenses). Other salaries and wages came to $153k. At year end it held assets of $624k against liabilities of $48k, net assets of $576k. It reported 3 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.